Brandywine Global Investment Management LLC Lowers Stock Position in Loews Co. (NYSE:L)

Brandywine Global Investment Management LLC trimmed its stake in Loews Co. (NYSE:L) by 7.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 132,674 shares of the insurance provider’s stock after selling 10,713 shares during the period. Brandywine Global Investment Management LLC’s holdings in Loews were worth $11,236,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC acquired a new position in Loews during the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Loews during the third quarter worth about $49,000. Human Investing LLC purchased a new position in shares of Loews in the fourth quarter valued at approximately $51,000. Graney & King LLC acquired a new position in shares of Loews in the fourth quarter valued at approximately $56,000. Finally, Intact Investment Management Inc. purchased a new stake in Loews during the 4th quarter worth approximately $68,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Loews Price Performance

L stock opened at $91.95 on Tuesday. The business’s 50-day moving average is $85.89 and its two-hundred day moving average is $83.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market capitalization of $19.57 billion, a P/E ratio of 14.37 and a beta of 0.80. Loews Co. has a 1 year low of $72.91 and a 1 year high of $92.35.

Loews (NYSE:L) last issued its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.27%. Loews’s payout ratio is currently 3.91%.

Insider Buying and Selling

In other news, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the sale, the director now owns 1,568,191 shares in the company, valued at approximately $132,276,910.85. The trade was a 0.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the transaction, the director now directly owns 6,705,529 shares in the company, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,860 shares of company stock worth $13,486,463. Corporate insiders own 18.70% of the company’s stock.

Loews Company Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.